Friday, July 21, 2017

Greg Abbot

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Last Stand
"We will now be renaming this newly conquered state the, United Soviet Socialist Republic of Texas" - The Left

The Democrats are having a hard time trying to find the right candidate to represent them in Texas.

With Texas Gov. Greg Abbott’s announcement that he is seriously considering running for reelection, the Democrats are faced with a stressful task to find the right candidate to take down Abbott.

The Democrats have worked hard year after year to turn Texas blue. They have fought hard with a series of candidates from Sen. Wendy Davis, to Houston Mayor Bill White, businessman Tony Sanchez. However, they failed each time.

Davis, who was very confident of winning the elections in 2014 stated, “I believed we could be competitive in 2014, and obviously had a big old cold bucket of water thrown on my head.”

The Democrats have new hope as, Rep. Rafael Anchia (D) states, “This statewide slate is eminently beatable, and it’s not representative of the state of Texas.”

“The electorate is very spun up, and the energy is virtually all on the Democratic side,” Anchia said. “We are now seeing in the Hispanic community a great deal of fear and loathing in the Trump/Abbott brand. They are inextricably linked,” Anchia added. However, when asked who he sees running for the post of the governor, he stated, “That’s unclear.”

While Texas doesn’t appear as a swing state, with most of the population being African American, Asian and Hispanic, that are more likely to vote in favor of the Democrats in comparison to the Republicans. However, Texas had one of the lowest turn around rates amongst all other states with only 51.6% of all eligible voters showing up to cast their vote in the 2016 elections.

“We look like California demographically, but we don’t behave that way at the ballot box, not because our voters are voting differently, but because we can’t get our people to show up,” Davis expressed. “Democrats always lose when turnout is low, because unfortunately it is our people who stay home.”

“We will field someone who will make an excellent governor,” Davis continued. “But will we field someone who is going to be able to raise the kind of money and have the kind of name ID that is necessary to build the kind of excitement behind a gubernatorial candidate? I don’t know,” she added.

While, the Republicans had been able to secure millions in vote, over the past years, however, the upcoming year the Democrats could have a possible chance. Ed Espinoza, who works at Progress Texas, the liberal public relations firm stated, “Democrats have picked up more than 1 million votes over the past decade while Republican voter growth has been stagnant.”

The Democrats expressed that they are still in search of the right candidate. Tariq Thowfeek, the state Democratic Party’s spokesman stated, “We’re talking to a number of great leaders, and an announcement will come at the appropriate time. These Texans come from diverse backgrounds with proven track records of leadership, and an unwavering commitment to our shared Democratic values.”

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With economic uncertainty growing worldwide, Texas is making a move to secure its own finances. The state owns some 5,600 gold bars currently held at an HSBC bank facility in New York City. In June, the Texas legislator passed and governor Greg Abbot signed a bill that mandates the construction of a secure facility in-state to house the bullion, and bring it all back.

When former governor Rick Perry started pushing for the move publicly, speculation started up about the motivation behind it. The Washington Post was among the first out of the gates to speculate that Texas is contemplating secession, and compared the initiative to Germany’s recent request for removal of their state-owned gold from New York.

Other outlets speculated that the move is simply a hedge against coming inflation, designed to keep the state solvent even if other states and businesses collapse under the weight of a sinking dollar.

In truth, the state’s goal may be even more ambitious than that – Texas may be angling to create a currency that competes directly with the dollar.

The author of the bill, state Representative Giovanni Capriglione, spoke frankly about part of his plan. “I would like to see this all come together so we become a commodities hub for the continent,” he said. “I think we’re just perfectly situated.”

Governor Abbot pointed out the unique position Texas was placing itself in when he signed the bill. “With the passage of this bill, the Texas Bullion Depository will become the first state-level facility of its kind in the nation, increasing the security and stability of our gold reserves and keeping taxpayers funds from leaving Texas to pay for fees to store gold in facilities outside our state,” said Abbot.

The other part of the plan is to allow depositors of precious metals and other commodities write checks against the value of their deposits. Texas has always been uncomfortable with Fiat money, as the state’s repeated election of End The Fed author Ron Paul to congress demonstrate. In that light, the creation of a hard, commoditized currency in Texas makes perfect sense.

In a strong signal that the state does in fact intend to compete with the Federal Reserve’s currency, the bill included strong language to protect the depositors’ interests. It states that no “governmental or quasi-governmental authority other than an authority of [Texas]” can take, regulate, move, or confiscate the commodities.

There are still logistical hurdles to overcome. The state has to determine a spot for the depository, and find a company to run it. In order to boost investor confidence, Texas also intends to have its facility certified by the Chicago Mercantile Exchange, COMEX. State officials also expressed hope that one of the larger existing banks will sign on to help facilitate the system.

If everything goes as planned, Texas will offer greatly expanded liquidity to people with large amounts of precious metals, and the state’s “don’t mess with Texas” image will attract investors away from other options for their commodity storage.

That should be good news for the state’s economy.


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